Seeking wisdom on value
 

Hey guys I'm new. I ran into the RX8 more or less on accident. I was looking for something as a cheaper replacement for a BRZ/FRS and it so happened that the RX8 has everything I want. Well with some searching around I found one and I need some advice on its value.

The 2004 RX8 I found has only 27,000 miles on it, but has a few scratches and dings, over all its in decent condition. The dealership wants $9,000 out the door for the thing. Nothing I have found online has this few miles. the majority of RX8s I can find in my area have 75,000-100,000 miles asking for $6,500-$7,500. This is fine, and for 27,000 miles and decent condition $9,000 seems reasonable. The only problem here is that it Kelly blue books for $6,500.

If it weren't for the KBB being so low I would have drove home in that car today, but is has me so concerned. The KBB does match up with what people are trying to sell them for and certainly doesn't match this. I know the car is unpopular to the general public because people do not know how to properly care for and maintain a rotary engine. And I understand the price for these cars has dropped significantly, but the blue book just seems wrong. I am scared to buy this car and not be able to resell it for nearly what I bought it for. I fear that if anything did happen I would loose a considerable amount of money if I needed to get rid of it. I'm looking for some direction. What do you think an RX8 in decent condition with 27,000 miles is worth? What are RX8s SELLING for these days? Tempted to go buy it but scared, some help would be appreciated.

Sorry, I can't answer your question about current RX-8 prices, but I can tell you this: do not consider purchase until you get a rotary engine compression test from a Mazda dealer or some other rotary mechanic.

Have you asked the dealership for a rotary specific compression test? Without the compression numbers it's hard to say what the cars worth.

Is it 27k with maintence records? Does it pass compression? You can have a low mileage 8 that's a grenade waiting to go. KBB is one thing, desirability is another. Your options for cheap fun RWD (cheap being under 15k) used to be 240's. Now you've gotta hunt down shitty handling Z cars or 924-44 Pooches. You won't be able to resell the car for what you bought it for, unless it was well maintained. In maybe 10-15 years when these cars become classics and actually become worth something for vehicles who've still got running engines and good chassis, yeah, you might make something back. Your only other option right now is an S2K, which, thanks to it being a Honda isn't really ever going to be "Cheap." Most I see around me that are cheap are riced out variations that need a ton of work to bring them back to stock or at least to a manageable driving standpoint.


KBB is just that. Kelly blue book. It's the values of what people are going to pay. Some rotary enthusiasts hate this car, some love it. It is a poised, well balanced, maybe not greatly engineered car in some respects but with a healthy engine and a lot of love and preventative work it's a car that will keep your head turning and your grin ear to ear. If you are looking for a vehicle for investment value that's still fun, I honestly suggest an RX7 if you can afford one if you want to stay in the rotary family. A well set up FC will handle fine. Might take some work but good modifications and holding onto stock parts always bodes well for resale value. (I'd also suggest a 924S if you don't want a rotary. Shittons of fun, usually can be had for $4k, and easy to work on. Just find one with timing belt work done regularly.)


The TL, DR here is this. "If you have a garage and can store an RX8, Do so, bring it out on the weekends, brap, enjoy. If you don't have a garage but can still follow this logic, do so, enjoy." These are wonderful little corner carvers that seat 4 and make great noise. The ONLY reason I'm considering selling mine is I need to replace my daily and I live in a meh climate as far as winter goes. Some weeks we have no snow, some weeks we have 3 feet. I've loved this car more than anything I've ever driven, and I've driven a few things. Nothing brings a smile to my face more than bringing the car up to redline. It is a sonorous, exciting event when you are needle deep doing 75 in a hairpin.


Oh, yeah. Get a goddamn compression test.

I'll make an amendment as well. If you live at a low altitude environment you could get away with a well maintained SA or FB, honestly. It'll still rev to the moon and back, clean examples are available for good prices (5-6k) and they are very, very simple cars to work on. Those cars being classics will eventually start going up in value as they get harder and harder to find as far as clean, maintained examples start vanishing. Low mileage? Maybe not. But still rotary fun? Yes, yes indeed. (Not that you can't have a rotary at high altitudes... they just make even less power.)

IMHO I don't think it's worth $9k - for starters, the 04 is the most plentiful and least desirable RX8 due to the improvements Mazda made for the 06/07 cars. Plus you already point out it's got scratches and dents, so it's not like it's an enthusiast car that's been garaged and only taken out once a week.

It might be worth paying a small premium for if the compression test indicates a healthy engine, but not $2500 worth of premium.